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Health Care PRICE Transparency Act
2/6/2025, 1:08 AM
Summary of Bill HR 267
Additionally, the bill requires insurers to provide consumers with personalized cost estimates for their healthcare services, taking into account their specific insurance coverage. This will allow individuals to better understand the costs associated with their healthcare and make more informed decisions about their care.
Overall, the goal of Bill 119 HR 267 is to empower consumers by providing them with the information they need to make educated choices about their healthcare. By increasing transparency in hospital and insurer pricing, the bill aims to promote competition and drive down healthcare costs for all Americans.
Congressional Summary of HR 267
Health Care Prices Revealed and Information to Consumers Explained Transparency Act or the Health Care PRICE Transparency Act
This bill provides statutory authority for requirements for hospitals and health insurance plans to disclose certain information about the costs for items and services.
Specifically, hospitals must publish in their list of standard charges certain rates negotiated with insurers, discounts for cash payments, and billing codes. Further, hospitals generally must publish the standard charges for the services provided by the hospital that may be scheduled in advance.
Additionally, insurance plans must publish the in-network and out-of-network charges for covered items and services and the negotiated prices for covered prescription drugs. Plans must provide a tool for consumers to search for this cost information. Consumers also may request additional information about the costs of specific items or services under their plans.
